Hourly labour costs up 16.45pct in Romania in Q1 2024

 Working-days adjusted hourly labour costs in Romania increased by 16.45% in the first three months of 2024, y-o-y, and 1.85% on a quarterly basis, the National Institute of Statistics reported on Tuesday.

According to INS, Q1 2024 hourly labour costs in Romania in working days adjusted series were up in most economic activities. The most significant increases were reported in education (11.52%), real estate transactions (10.09%), hotels and restaurants (8.82%).

The largest decreases in the hourly labour costs adjusted for working days were recorded in electricity, gas, steam and air conditioning production and supply (-12.88%), mining and quarrying (-10.11%). As against the previous quarter, salary costs increased by 1.88%, while non-salary costs by 1.10%.

Y-o-y, Q1 2024 hourly labour costs were up across the board. The most significant increases in the hourly labour costs adjusted for working days were reported in education (33.30%), hotels and restaurants (27.06%), transport and storage (20.96%), and construction (20.49%).

The smallest increases were recorded in mining and quarrying (8.69%), healthcare and social assistance (9.94%), administrative and support services (10.68%).

Salary costs were up 16.44%, and non-salary costs 16.49%.

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